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Tuesday, June 25, 2013 | By ShanB | Comments Off on Compare Gasoline and Electric Fuel Prices with eGallon

The Energy Department on June 11 launched the eGallon—a way for consumers to compare the costs of fueling electric vehicles versus driving on gasoline. The current national average eGallon price is about $1.14, meaning that a typical electric vehicle could travel as far on $1.14 worth of electricity as a similar vehicle could travel on a gallon of gasoline.

On Energy.gov/eGallon, consumers can see the latest eGallon price for their state and compare it to the price of gasoline. Over time, consumers will notice that the eGallon price will be far more stable and predictable than gasoline prices. That’s because the eGallon price depends on electricity prices, which historically are very stable; gasoline prices depend on the global oil market, which can be very unstable and are often influenced by unpredictable international events.

The eGallon provides a metric that is easily comparable to the traditional gallon of unleaded fuel. That comparison is made by calculating how much it would cost to drive an electric vehicle the same distance a similar conventional vehicle could travel on a gallon of gasoline. For example, if gasoline costs $3.60 per gallon in your state and the eGallon price for your state is $1.20, that means that for $1.20 worth of electricity you can drive the same distance as you could for $3.60 worth of gasoline. The eGallon price varies from state to state based on the price of electricity. See the Energy Department press release.